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Gold/Mining/Energy : Inco-Voisey Bay Nickel [ T.N.V] -- Ignore unavailable to you. Want to Upgrade?

To: Winer who wrote (164)	2/5/1998 8:22:00 PM
From: Terence Mitchell	Respond to of 1615

Hi Winer, Tobin is repeating what Trudeau, Lalonde et al did to the west, their immature, unrealistic projections about the future value of oil and the barrels of revenue to governments (stupidly called the National Energy Policy as opposed to tax rip off) cast Canada into years of economic chaos. Mr Tobin should not be so sure about his mega nickel project, the way things are going suggest to me that he is heading for a major disaster taking a major Canadian corporation with him. If he succeeds in doing that, then all Newfoundland residents and Innu may as well give up on any future developments in the mineral sector. Policies and negotiations have to be flexible, you cannot push your "percieved" advantage to the disadvantage of the other partner, you can negotiate yourself into holding nothing. Tobin needs to demonstrate wisdom and leadership, not bull headedness. regards, Terence Mitchell

To: Winer who wrote (164)	2/6/1998 11:34:00 AM
From: Terry J. Crebs	Read Replies (3) \| Respond to of 1615

Thank you, Winer for the posts. I agree with Mr. Mitchell, the Newfoundland government needs to be much more flexible. INCO shareholders have suffered too long because of Mr. Tobin's political manouverings, IMO. Thanx again, T.

To: Winer who wrote (164)	2/11/1998 4:35:00 PM
From: Terry J. Crebs	Read Replies (2) \| Respond to of 1615

Feb-11 --INCO announced cost and dividend cuts (i.e. $165 million (US) annual savings thru 1175-person layoff (16% cut in Ontario and 10% cut in Manitoba) and common-share dividend reduction from $0.10 to $0.025 (and $0.02 for VBN shares). The announcement did have some unexpected/silly quotes, like: "Scott M. Hand, INCO's President, indicated that: We are making changes to our business consistent with our strategy of running our operations to optimize rates of return for our shareholders." Sheesh, makes me wonder if the esteemed President understands that a shareholder's rate of return is also dependent on dividend payments. Very sad times for INCO shareholders and employees--hopefully management will be changed too (e.g., officer's 1997 annual incentive plans have been eliminated).